04-11-2013 06:31 AM
MY LO is requiring my 2010 2011 tax return transcripts and my current W2 ... during 2010/2011 I worked for an employer who did not reimburse for expenses such as mileage, use of vehicle, cell phone etc. so I would claim that on my return along with other typical credits and deductions. I would get a refund back of close to the amount I paid out in these expenses. I have been with a new employer for a year now, where I do not have unreimbursed expenses. I have filed our 2012 tax return and had unreimbursed employer expenses that were significantly less as it was the last bit from my previous employer. Will the UW take into consideration that those expenses were from a previous employer and I do not have that issue now or will I be stuck?? By leaving my old employerr my income increased 17k and I do not have those expenses. My issue is we, as well as our builder, have received our Commitment Letter before the LO has received our tax transcript, we sold our land to the builder so they could build and we are listing our house in a couple of months- the builder broke ground this week! Really concerned this isgoing to fall through and we have so much invested into it!
04-11-2013 07:15 PM
04-12-2013 06:27 AM
MY LO asked for 2012 W2 and pay stubs from 2012 - I started my new job Dec 2011, so the W2 reflects my new pay. The tax return however is 2010 2011 which reflects the lower pay and the unreimbursed expenses. I have filed my 2012 tax return so I guess I could give them that and the LOE if necessary ...
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO